Suppose the marginal cost of solving global warming problem and the marginal benefit of doing so are
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Question:
Suppose the marginal cost of solving global warming problem and the marginal benefit of doing so are listed below. How many degrees of temperature to be reduced are best for society to implement? Explain why?
Marginal Cost | 10 | 15 | 22 | 30 | 50 | 100 | 500 |
Marginal Benefit | 400 | 200 | 50 | 30 | 5 | 0 | 0 |
Degrees Reduced | .001 | .007 | .01 | .015 | .017 | .019 | .019 |
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